Page 660 - MOE ENGLISH PR REPORT - FEBRUARY 2025 Part 1

2/25/25, 5:18 PM UAE calls for developing deal on facilitating trade exchange
During the session, the minister handed over the presidency of the current session to the Kingdom of
Bahrain after the UAE chaired the previous session.

The United Arab Emirates (UAE) has handed over the presidency of the preparatory meetings for the
115th meeting of the Arab Economic and Social Council (AESC) to Bahrain.

The meetings commenced on Sunday at the headquarters of the General Secretariat of the Arab
League, where the Social Committee convened to prepare the draft agenda related to the social
dossier of the session.

The UAE delegation was led by Juma Mohammed Al Kait, Assistant Under-Secretary for Foreign
Trade Affairs at the Ministry of Economy, as well as several officials at the ministry.

In his opening speech, Al Kait reaffirmed the UAE’s unwavering commitment to supporting all
frameworks of joint Arab action across various fields, including the social sector and its associated
projects and initiatives, in line with the vision and directives of its leadership.

He highlighted that during its presidency of the 114th session of the Council, the UAE was keen to
support and endorse various Arab efforts to advance social progress, contributing positively to
comprehensive and sustainable development.

He also underscored the significance of pioneering initiatives that bring tangible progress and
prosperity to Arab societies, citing the Arab Reading Challenge as one of the region’s most prominent
knowledge and cultural initiatives driving social development.

Al Kait stressed the importance of continuing joint efforts to implement the resolutions of the 114th
session of the Economic and Social Council, which serve as a fundamental pillar and roadmap for
achieving common objectives in economic and social development.

He announced the formal handover of the presidency of the current session to Bahrain and extended
his best wishes for its success in supporting Arab development efforts and enhancing the work of the
Arab Economic and Social Council across various sectors to promote prosperity for Arab nations and
peoples.

Meanwhile Abdulla Bin Touq Al Marri, Minister of Economy, emphasised the private sector’s role as a
key partner in driving national economic growth and boosting its competitiveness at both regional and
international levels.

In a session titled “Hard Power: A Wake-Up Call for Businesses Amid Global Economic Shifts,” held
at the 55th Annual Meeting of the World Economic Forum in January 2025, Al Marri added that the
UAE has consistently involved the private sector in numerous national strategies and plans launched
over the past years, creating a unique model of successful public-private partnerships in the country.

He stated that the number of new economic licences issued in UAE markets totalled 200,000 in 2024.
The session explored the impact of global tensions on the private sector and how businesses are

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